Many of those shares continued their rise on Wednesday, adding Austevoll, Bakkafrost and The Scottish Salmon Company to their ranks.

Some of the backdrop of surging stocks was Nordea Markets upgraded recommendation and salmon-price view. After forecasting a salmon price of EUR 4.98 for 2018 and 2019 back in December, the brokerage now says it sees EUR 6.23 per kilogram through to 2020.

“Our observation is that prices below six euro per kilo appear to have been a catalyst for demand,” a note to investors reported by TDN Finans said.

The changes in salmon-price estimates mean a corresponding 40-percent hike, on average, for the earnings estimates of companies Nordea Markets covers. Most of their recommendations, too, move from “sell” to buy” as a result of the upgrade.

The earnings increase produced higher Nordea stock price targets of the following magnitude: Grieg Seafood from NOK 55 to 100; Marine Harvest from NOK 110 to 185; NRS from NOK 130 to 220 and Salmones Camanchaca from NOK 57 to 70).